Oil prices fell correctively on last day of trading week

World oil prices fell on Friday morning as part of a correction after a strong rise the previous day.

Report informs, citing the auction data that the price of August futures for Brent crude fell by 0.26% to $75.47 per barrel, and July futures for WTI dropped by 0.25% to $70.44.

On the eve of the cost of Brent increased by 3.37%, and WTI rose by 3.44%. The growth of quotations followed the meeting of the European Central Bank (ECB), which expectedly raised the discount rate to 4% from 3.75% per annum, and then at a press conference, the head of the central bank, Christine Lagarde, allowed a new rate increase in July.

The rise in oil prices could be affected by the strengthening of the euro against the dollar, which followed after that.